MEPS PRESS FOR OPT OUT FOR MICRO-BUSINESS ANNUAL ACCOUNTS FILING
January 1st, 2010
BY KEITH NUTHALL
AN OPT-OUT allowing European Union (EU) small businesses turning over less than Euro 1 million per year to stop filing annual accounts has been proposed by the European Parliament's legal affairs committee. It has passed amendments to a proposed reshaped 'directive on the annual accounts of certain types of companies as regards micro-entities' which would allow member states to abandon these filing duties. The opt-out would apply to companies with a balance sheet under Euro 500,000 and/or an average of 10 employees during a particular financial ...
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